1675-3 Sherry Frontenac Sh errs- rontenac Hotel
Sold for $2.3 Million
By ELI ADAMS who handled the transaction,
Herald Real Estate Editor contained 280 units of which
The 25-year-old Sherry- 262 were hotel units and 16
Frontenac Hotel on—Miami apartments.A swim pool and
Beach has been sold for $2.3 cabana are also included. In
million. addition, there is a 100 by
Buying the property, at- 150-foot parking lot on Indi-
6565 Collins Ave.; was the an Creek Drive.
Bayshore 21, .Inc., whose This is the second hotel in
principal is Marvin Glick. the a r e a sold in recent
Seller was Sherry-Frontenac, weeks. The Casablanca
Inc.,whose principals include Hotel,
changedt hands Collins345 lave.,
Samuel Cohen. •
The purchase price includ- million deal, with Brenner
ed a $600,000 down payment, serving as broker in that deal
with the balance being paid as well.
with a 20-year purchase Ground was broken for the
money mortgage to the seller- Sherry-Frontenac Hotel on
at 6 per cent interest with no Nov. 15, 1947.The eight-story
• amortization for five years. structure was opened in.
• The property also .is subject December of .1948. At the
to a ground lease of$55,000 time it was called the largest
a year. hotel on Miami Beach. Its
The property, said Sam cost at the time was set at$3
Brenner, real estate broker million.
CATCH
See,we caught your attention, 47 INDUST F
now see what'we c,an do with p.c..Qs from Ft. Lam
your product or service.For the For Immediatedeveloqu+ent.1400'of MI
I best in Radio&TV,Advertising OK for hookups.Borgorn priced of S50.00
I IT
Call Bob J,acob.F or Scott David Z.Sokol,V.P.,271-8377 0
Warren—.754-95,39 of Keyes Co., Realtor, 100
WARREN PRODUCTIONS
f
4